ANNOUNCEMENT 12 March 2014

Director Share Purchases

Coal of Africa Limited (the "Company") advises that it was informed on 12 March 2014, that David Brown and Michael Meeser, both Executive Directors of the Company purchased ordinary shares of no par value in the Company ("Ordinary Shares"). Further details are set out below:
David Brown, an Executive Director and the Chief Executive Officer of the Company acquired
100,000 shares at an average price of R0.9812 (5.41 pence) on 12 March 2014. Following this acquisition Mr Brown is now the beneficial owner of 250,000 shares representing 0.02% of the
Company's issued share capital.
Michael Meeser, an Executive Director and Chief Financial Officer of the Company acquired
100,000 shares at an average price of R0.9535 (5.26 pence) on 11 March 2014. Following this acquisition Mr Meeser is now the beneficial owner of 300,000 shares representing 0.03% of the
Company's issued share capital.

For more information contact:

Company advisors:

Investec Bank Limited is the nominated JSE Sponsor

About CoAL:

CoAL is an AIM/ASX/JSE listed coal exploration, development and mining company operating in South Africa. CoAL's key projects include the Vele Colliery (coking and thermal coal), the Greater Soutpansberg Project /MbeuYashu, including CoAL's Makhado Project (coking and thermal coal).